TransAlta closes $240 million equity offering
CALGARY, Alberta (March 21, 2003) - TransAlta Corporation (TSX: TA; NYSE: TAC) announced today it has closed its public offering of 15 million common shares for gross proceeds of $240 million.
The underwriters have a further option to acquire up to 2.25 million additional common shares at the offering price of $16 per common share for the purpose of covering over-allotments. If they fully exercise the option, 17.25 million common shares will be issued, for total gross proceeds of $276 million. This option expires 30 days after closing.
The common shares have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy such common shares in any jurisdiction in which such an offer or sale would be unlawful and is issued pursuant to Rule 135c under the Securities Act of 1933.
TransAlta Corporation is Canada's largest non-regulated power generation and wholesale marketing company. We have close to $9 billion in coal-fired, gas-fired, hydro and renewable generation assets in Canada, the U.S., Mexico and Australia. With approximately 10,000 megawatts of capacity in operation, under construction or in development, our focus is to efficiently operate our assets in order to provide our wholesale customers with a reliable, low-cost source of power. TransAlta's Web site is transalta.com. |
